FG disburses N294.51bn to disengaged PHCN workers – Igali
(Nigeria) The Permanent Secretary, Ministry of Power, Godknows Igali, said on Wednesday that the Federal Government had disbursed N294.51 billion to disengaged Power Holding Company of Nigeria. PHCN workers. Igali made the disclosure to State House correspondents after a special preparatory meeting to strategise on the Nov. 1 physical handover of PHCN successor companies to private investors. The meeting was chaired by Vice-President Namadi Sambo at the Presidential Villa. Specifically, Igali said that N214.22 billion was paid as severance directly to the beneficiaries’ personal accounts, while N80.29 billion was paid as gratuity to beneficiaries’ pension fund administrators. He said that out of the 47,913 PHCN members of staff who went through the severance process, 40.093 had been fully paid, leaving out 7,820. From the 7,820 staff, Igali said that 605 were validated on Tuesday and would be paid before the end of the week. Igali said that the remaining beneficiaries